Last month the US Department of Labor (Department) issued an Information Letter stating that it is possible for individual account plans subject to the Employee Retirement Income Security Act of 1974 (ERISA) to offer limited private equity investments in a manner that complies with ERISA, provided certain suitability issues are considered by plan fiduciaries. The Information Letter confirms that a plan fiduciary would not violate ERISA fiduciary duties “solely because the fiduciary offers a professionally managed asset allocation fund with a private equity component.” Similarly, the Information Letter confirms that fiduciaries may offer private equity as a small component of an ERISA plan’s diversified investment option, like a target date fund, a target risk fund, or a balanced fund.
Archives for July 22, 2020
NLRB Updates Standard on Discipline for Offensive Conduct
Executive Summary: On July 21, 2020, in a unanimous decision, the National Labor Relations Board (“NLRB” or the “Board”) modified the standard for determining whether employees have been lawfully disciplined or discharged after making abusive or offensive statements in the course of activity otherwise protected under the National Labor Relations Act (“NLRA” or the “Act”). See General Motors LLC, 14-CA-197985, 369 NLRB No. 127 (2020). In reaching this decision, the Board announced that all such cases moving forward would be analyzed under the Wright Line standard.
EU-U.S. Privacy Shield Program for Transfer of Personal Data to U.S. Found Invalid
The EU-U.S. Privacy Shield program is invalid, the Court of Justice of the European Union (CJEU) declared on July 16, 2020, in the matter of Data Protection Commissioner v. Facebook Ireland and Schrems (C-311/18) (Schrems II).
Illinois, Chicago, Cook County Issue New COVID-19 Guidance, Restrictions
Illinois, Chicago, and Cook County have issued new guidance and restrictions as COVID-19 cases continue to rise around the country.
Four More Cities in Minnesota Mandate Face Coverings
Four more Minnesota cities and the Minneapolis-Saint Paul International (MSP) Airport are requiring face coverings in indoor public spaces.
Labor Board General Counsel Provides Employer-Friendly Advice During COVID-19 Pandemic
The National Labor Relations Board (NLRB) General Counsel (GC) has weighed in on several COVID-19-related issues under the National Labor Relations Act (NLRA).
Amy Peck Discusses Compliance Implications of Relaxed I-9 Inspection Requirements
Amy Peck discusses the implications of the U.S. Immigration and Customs Enforcement’s extension of relaxed I-9 document inspection requirements during the COVID-19 pandemic and best practices for ensuring continued compliance in “Relaxed Form I-9 Compliance Extended to Aug. 19,” published by SHRM.
Gregg Clifton Discusses Enforceability of COVID-19 Athletic Waivers
Gregg Clifton discusses the enforcement implications of liability waivers provided to student athletes during the COVID-19 pandemic in “Student athlete COVID-19 waivers likely won’t block lawsuits,” published by Business Insurance.
Kathryn Russo Discusses FMCSA Drug Testing Compliance During COVID-19
Kathryn Russo discusses best practices for maintaining compliance with the Federal Motor Carrier Safety Administration’s drug testing requirements despite logistical challenges brought by the COVID-19 pandemic in “FMCSA Continues Exemptions for Drug and Alcohol Testing,” published by EHS Today.
HBR Readers on Juggling Work and Kids… in a Pandemic
18 working parents share how they’ve been getting by.
Don’t Work on Vacation. Seriously.
Research shows it’s not worth it.
Disney Cuts Ties With ABC News Executive Over ‘Racially Insensitive’ Remarks
The executive, Barbara Fedida, has left the company after an investigation supported complaints about her workplace comments.
Hearst Employees Say Magazine Boss Led Toxic Culture
At Cosmopolitan staff meetings, workers complain of discrimination and tokenism.
Corporations Face a Reckoning on Race: What you need to know
The corporate world is facing an unprecedented crisis on race.
Why Your Workplace Disability Insurance May Not Be Enough
When you signed up for your employee benefits, you may have glossed over the section on disability insurance. If you’re healthy, it’s tough to imagine ever being unable to work—even for a short amount of time. But disabilities can happen, and your workplace coverage may not be enough.
Social Profiles